HIVE Blockchain Technologies Ltd (HIVE)

[Imperial Whazoo]

i was waiting for the negatories to reappear. I knew they would, too. In the mean time, I amused myself by watching the level 2 to get a measure on the interest or lack thereof.

Unlike prior days, today's buying is marked by a steady and obvious pattern where the buys are in increments of about 800 to 9000 shares. What is unusual about this is that it is so steady. Except near the open, the spread has been tight and the entity doing the buying is careful not to be seen to be buying. They never wait long to pull the trigger. The bid/ask will move a penny up or down, and this buyer pulls the trigger at the ask as often as not.

Stepping across to the ask, people. Watch the level 2. The sizes & the buying (more frequently than not at the ask) is the tell.

Whats going on is plain: its called accumulation. The accumulation is deliberate & steady & on the sly. Somebody does not want to be seen accumulating in stealth mode, and they obviously would rather make a buy at the ask rather then wait on a penny or two less at the bid. And they are very careful to manage the size of their buys so that programs at the trading desks don't start ringing accumulation alarms.

And about all this nonsense about it taking a long time to dispose of 24 million shares, ask yourselves whether a company that is flying 747 plane loads of AMD & nVidia GPU cards in so that they don't have to miss even a second as they finish out their second Iceland facility and their two facilities in Sweden.... Are they dumping prices or are they running like Olympic 100 meter sprinters to get producing hardware up?

What kind of jack legged nonsense is it to insist that the availability of share means people will dump shares, as though the only possibility for people with newly available shares is to rush around like they are on fire and dump them at whatever price they can get?

It makes better sense that these shares is being sold into the accumulation that is going on & not a dumping into declining prices. If there was a rush to snag profits, prices would be on the decline.

They are not.

IE.... the market is absorbing rather handily these newly tradable shares.

Is the price declining in the week since available or is price up from that day?

Up.

Duh.

Imperial Whazoo